Startup · Canada
Eavor Technologies
HQ Calgary, CanadaFounded 201751-200 employeesUpdated
Eavor is an advanced geothermal technology company dedicated to creating a clean, scalable form of clean baseload power on a global scale.
Funding11 rounds · ~$226M
- Equity raised
- ~$226M
- Debt, secondaries & grants
- ~$157M
- Latest
- ~$5.7MGrant · Jul 7, 2026
- Last valuation
- $601M?Basis not stated · Series B · Oct 25, 2023
| Announced | Stage | Amount | Valuation | Lead investors | Other investors | Confidence |
|---|---|---|---|---|---|---|
| Jul 7, 2026 | Grant | ~$5.7M | — | Emissions Reduction Alberta | — | Confirmed |
| Jun 3, 2025 | Undisclosed | ~$65.1M | — | Canada Growth Fund | — | Confirmed |
| May 2, 2024 | Debt | ~$48.7M | — | European Investment Bank | — | Confirmed |
| Feb 20, 2024 | Strategic | Undisclosed | — | Kajima Corporation | — | Confirmed |
| Oct 25, 2023 | Series B | ~$65.7M | $601M? | OMV | Canada Growth Fund | Confirmed |
| Jun 14, 2023 | Series B | ~$36.9M | — | OMV | BP Ventures, Vickers Venture Partners | Confirmed |
| Mar 9, 2023 | Grant | ~$98.1M | — | — | — | Confirmed |
| Jan 30, 2023 | Undisclosed | ~$7.4M | — | — | — | Reported |
| Aug 11, 2021 | Grant | $4.3M | — | — | — | Reported |
| Feb 16, 2021 | Undisclosed | $40.0M | — | — | BP Ventures, Business Development Bank of Canada, Chevron Technology Ventures, Temasek, Vickers Venture Partners | Reported |
- ~$5.7MJul 7, 2026
- ~$65.1MJun 3, 2025
- ~$48.7MMay 2, 2024
- UndisclosedFeb 20, 2024
- ~$65.7MOct 25, 2023
- ~$36.9MJun 14, 2023
- GrantConfirmed~$98.1MMar 9, 2023
- Undisclosed~$7.4MJan 30, 2023
- Grant$4.3MAug 11, 2021
- Undisclosed$40.0MFeb 16, 2021
Raised counts equity rounds; debt, secondary sales and grants are totaled separately. Amounts in other currencies are converted at the announcement month's average rate. A ~ marks an estimated or converted amount.
Systems2
- Eavor-Loop™A closed‑loop geothermal system that circulates a proprietary working fluid to harvest heat from deep rock for heating, cooling or electricity generation.
- Rock-Pipe™A protective completion technology that isolates the working fluid from the surrounding rock within the multilateral sections of the loop.
Newest unveiled first. Systems that belong to a government program link to the program page, where variants, costs and contracts are.
Capabilities1
| Technology | Role | Maturity | TRL | Notes | Confidence |
|---|---|---|---|---|---|
| Power, grids and energy storage | Developer | — | — | classify_sectors run 37, haiku, taxonomy 2026-10-18b: Geothermal technology for clean baseload power generation, with no defense use stated. | Reported |
- Developerclassify_sectors run 37, haiku, taxonomy 2026-10-18b: Geothermal technology for clean baseload power generation, with no defense use stated.—Reported
Maturity and TRL describe this organization's work; the field-wide maturity is on each technology's page.
People5
| Person | Role |
|---|---|
| John Redfern · LinkedIn ↗ | Co-Founder and President |
| Paul Cairns · LinkedIn ↗ | Co-Founder, Chief Business Development Officer & Board Member |
| David Broshko | Chief Financial Officer |
| Mark Fitzgerald | President and Chief Executive Officer |
| Matthew Toews · LinkedIn ↗ | CTO |
Sources19
Show all 19 sources and supporting evidence
Profile3
- 1
Eavor Technologies · Supports Organization · description, Organization · name, Organization · website
“Eavor is an advanced geothermal technology company dedicated to creating a clean, scalable form of clean baseload power on a global scale.”
- 2
Sixth-Domain · Supports Organization · country, Organization · kind
“{"country": "Canada", "hq_iso2": "CA", "id": "317de182-5669-45fd-a6a9-70406c3eb7f9"}”
- 3
Owler · Supports Organization · founded year, Organization · hq city, Organization · linkedin url
“founded_year: 2017”
Systems1
- 4
Eavor Technologies · Supports System
“The profiled multilateral sections are completely separated from the rock and each other using Eavor’s protective Rock-Pipe™ completion technology. Working fluids are permanently isolated and contained within the system.”
Funding14
- 5CompanyEavor Advances Next-Generation Geothermal Technology with Support from the Government of Alberta
GlobeNewswire · Jul 7, 2026 · Supports Funding round · amount
“awarded $8 million from the Government of Alberta”
- 6
Eavor · Jun 3, 2025 · Supports Funding round · amount
“~C$89 million on financial close”
- 7
BetaKit · Jun 3, 2025 · Supports Funding round
“will provide an additional $48 million upon the completion of undisclosed milestones”
- 8CompanyGermany: EIB and EU Innovation Fund support Eavor’s innovative geothermal technology in Bavaria
European Investment Bank · May 2, 2024 · Supports Funding round · amount
“providing a loan of close to €45 million”
- 9
Eavor · Feb 20, 2024 · Supports Funding round, Organization · ownership
“to receive a direct investment into the company”
- 10
ThinkGeoEnergy · Oct 26, 2023 · Supports Funding round
“Eavor Technologies has secured $182m in funding after an equity round”
- 11
Multiples · Oct 25, 2023 · Supports Funding round · post money valuation usd
“Eavor is valued at $601M as of October 2023.”
- 12
Canada Growth Fund · Oct 25, 2023 · Supports Funding round · amount
“a direct commitment of $90M of Series B preferred equity in Eavor”
- 13CompanyJune 14, 2023 - Eavor
Eavor · Jun 14, 2023 · Supports Funding round, Funding round · amount
“has completed the first close of their Series B equity round”
- 14
GlobeNewswire · Mar 9, 2023 · Supports Funding round · amount
“has been awarded a €91,6 million grant from the European Innovation Fund”
- 15
Global Corporate Venturing · Feb 17, 2021 · Supports Funding round
“Temasek, Vickers Venture Partners and BDC Capital filled out the round”
- 16
CNBC · Feb 16, 2021 · Supports Funding round · amount
“announced a $40 million funding round”
- 17
Eavor · Sep 23, 2019 · Supports Funding round · amount
“closes Eavor’s CAD$15 million Series A investment round”
- 18
LinkedIn · Supports Funding round, Organization · employee range, Organization · founded year, Organization · hq city, Organization · hq region, Organization · linkedin url, Role
“funding round: Grant, 2021-08-11, USD 4,300,000, lead: Sustainable Development Technology Canada”
People1
- 19
Crunchbase · Supports Organization · employee range, Organization · hq city, Organization · linkedin url, Role
“employee_range: 51-200 (profile: 51-100)”
Each fact on this page is attached to the sources that support it. Archived copies are linked when we keep one.